Wind Energy – South Korea
Korea South-East Power’s (KOEN) decision to exit the 390 MW Shinan – Ui offshore wind project underscores a tough reality: economic challenges can derail even the most promising renewable energy projects.
Despite securing a 20-year stable revenue guarantee, rising material and construction costs caused the project to fail Korea’s Preliminary Feasibility Study. Now, KOEN is selling its 37% stake, leaving questions about the future of public-sector involvement in offshore wind.
Original source: www.sedaily.com
